Oppenheimer & Co. Inc. Buys 75,989 Shares of AT&T Inc. $T

Oppenheimer & Co. Inc. boosted its stake in AT&T Inc. (NYSE:T) by 14.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589,053 shares of the technology company’s stock after acquiring an additional 75,989 shares during the period. Oppenheimer & Co. Inc.’s holdings in AT&T were worth $14,373,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd boosted its position in AT&T by 5.3% during the 1st quarter. IFM Investors Pty Ltd now owns 1,488,172 shares of the technology company’s stock worth $43,142,000 after acquiring an additional 74,684 shares during the period. Parr Mcknight Wealth Management Group LLC acquired a new stake in AT&T in the 1st quarter valued at approximately $2,901,000. Sound Income Strategies LLC increased its holdings in shares of AT&T by 19.8% during the 3rd quarter. Sound Income Strategies LLC now owns 754,818 shares of the technology company’s stock worth $18,772,000 after purchasing an additional 124,997 shares during the period. Orographic Financial Advisors LLC acquired a new stake in shares of AT&T during the 1st quarter valued at about $3,449,000. Finally, B.A. Schrock Wealth Management Inc. bought a new stake in AT&T in the third quarter valued at $1,583,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

T has been the topic of several research reports. Barclays reduced their price target on shares of AT&T from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday. BNP Paribas Exane upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $26.00 to $30.00 in a report on Monday, September 21st. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 target price on the stock in a research report on Thursday, July 23rd. JPMorgan Chase & Co. decreased their target price on AT&T from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, October 22nd. Finally, Sanford C. Bernstein cut AT&T from an “outperform” rating to a “market perform” rating and set a $24.00 price target for the company. in a research note on Tuesday, October 13th. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.55.

AT&T Trading Down 0.5%

NYSE:T opened at $20.83 on Tuesday. The firm has a market cap of $140.30 billion, a P/E ratio of 11.26, a P/E/G ratio of 1.04 and a beta of 0.25. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.87. The firm’s fifty day moving average is $24.76 and its 200-day moving average is $25.04. AT&T Inc. has a 52 week low of $19.89 and a 52 week high of $29.43.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 21st. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.60 by $0.05. AT&T had a return on equity of 13.41% and a net margin of 10.19%. The company had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.69 billion. During the same quarter in the prior year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts expect that AT&T Inc. will post 2.39 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.11 annualized dividend and a dividend yield of 5.3%. AT&T’s dividend payout ratio is 60.00%.

AT&T Profile

AT&T Inc (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.